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SP, , Dow Theory
According to Dow Theory, for an Uptrend a sequence of HB-HT is required. After a decline from 16/Apr to 15/May, price created a Higher Bottom (HB) on 22/May. On 24/May, the required Higher top (HT) was created by price – as soon as it crossed above 91.8 with Volume above average.
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Hi SP sir, For doing Dow analysis we have to use line chart with a minimum period of 2 years. If we use candle sticks with shorter periods it may be illusory. I also did the same kind of mistakes in the beginning. 🙂
attached line chart
Thank you for your comment, will help for sure.